Quarterly report pursuant to Section 13 or 15(d)

VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

v3.23.2
VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Rental property    
Land and leasehold interests $ 483,195 $ 492,204
Buildings and improvements 2,845,193 3,332,315
Tenant improvements 40,809 122,509
Furniture, fixtures and equipment 100,803 99,094
Gross investment in rental property 3,470,000 4,046,122
Less – accumulated depreciation and amortization (438,113) (631,910)
Total investment in rental property 3,031,887 3,414,212
Real estate held for sale, net 122,690 193,933
Net investment in rental property 3,154,577 3,608,145
Cash and cash equivalents 396,940 26,782
Restricted cash 27,614 20,867
Investments in unconsolidated joint ventures 122,435 126,158
Unbilled rents receivable, net 7,808 39,734
Deferred charges and other assets, net 58,961 96,162
Accounts receivable 4,498 2,920
Total assets 3,772,833 3,920,768
LIABILITIES AND EQUITY    
Mortgages, loans payable and other obligations, net 1,820,981 1,903,977
Mandatorily redeemable noncontrolling interests 487,619 0
Dividends and distributions payable $ 72 $ 110
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts payable, accrued expenses and other liabilities Accounts payable, accrued expenses and other liabilities
Accounts payable, accrued expenses and other liabilities $ 53,239 $ 72,041
Rents received in advance and security deposits 15,710 22,941
Accrued interest payable 6,963 7,131
Total liabilities 2,384,584 2,006,200
Commitments and contingencies
Redeemable noncontrolling interests 40,231 515,231
Veris Residential, Inc. stockholders’ equity:    
Common stock, $0.01 par value, 190,000,000 shares authorized, 92,041,386 and 91,141,649 shares outstanding 918 911
Additional paid-in capital 2,540,309 2,532,182
Dividends in excess of net earnings (1,348,792) (1,301,385)
Accumulated other comprehensive income 4,518 3,977
Total Veris Residential, Inc. stockholders’ equity 1,196,953 1,235,685
Noncontrolling interests in subsidiaries:    
Operating Partnership 115,307 126,109
Consolidated joint ventures 35,758 37,543
Total noncontrolling interests in subsidiaries 151,065 163,652
Total equity 1,348,018 1,399,337
Total liabilities and equity $ 3,772,833 $ 3,920,768